Digi International (NASDAQ:DGII) Cut to Buy at StockNews.com

Digi International (NASDAQ:DGII) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

DGII has been the topic of a number of other reports. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of Digi International in a report on Thursday, February 6th. Piper Sandler dropped their price target on Digi International from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Digi International currently has an average rating of “Moderate Buy” and an average price target of $35.25.

Digi International Trading Down 4.3 %

DGII stock traded down $1.03 during midday trading on Tuesday, hitting $23.13. 262,233 shares of the company’s stock were exchanged, compared to its average volume of 211,998. Digi International has a one year low of $20.17 and a one year high of $37.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market cap of $853.47 million, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. The stock’s fifty day moving average price is $30.29 and its 200-day moving average price is $30.57.

Digi International (NASDAQ:DGII) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Digi International had a net margin of 8.45% and a return on equity of 11.16%. Research analysts predict that Digi International will post 1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Digi International by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company’s stock worth $24,074,000 after buying an additional 11,239 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Digi International by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 359,893 shares of the technology company’s stock valued at $10,880,000 after purchasing an additional 29,026 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Digi International in the fourth quarter valued at approximately $1,400,000. GAMMA Investing LLC increased its position in shares of Digi International by 2,467.2% during the 1st quarter. GAMMA Investing LLC now owns 28,136 shares of the technology company’s stock worth $783,000 after purchasing an additional 27,040 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Digi International by 16.3% during the 4th quarter. BNP Paribas Financial Markets now owns 28,054 shares of the technology company’s stock worth $848,000 after purchasing an additional 3,925 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.